Technology is a powerful force, enabling efficient corporate enterprise growth when properly employed. The pace of "new" continues to accelerate, posing both new opportunity and possibly massive disruption within our established systems and data. As in the case with other change elements—environmental, political, legislative— savvy corporate boards will have the pulse on emerging technology and a view as to when is the ideal timing to drive adoption for maximum benefit without wasting limited capital. Following are seven questions proactive directors should consider when "talking tech" with their management teams.
Despite its growing maturity, simulation is still regarded by some as being complicated and impractical from a management perspective, even through the downfalls in static analysis of risk positions pertaining to business processes, projects, insurances or trading are well documented. Simulation is still perceived by some as an approach which involves too much data, too much expertise, and specialist skill sets to implement.
Investigations, done right, minimize or control loss, uncover systemic issues, identify risk areas, and provide information that drive continuous improvement initiatives. As a result, investigations are a critical cornerstone to governance, risk management, and compliance (GRC) efforts in the ability to find and resolve issues to reduce exposure and contain loss to the organization.
Most organizations fail to manage the lifecycle of policy, resulting in policies that are out-of-date, ineffective, and not aligned to business needs. It opens the doors of liability, as an organization may be held accountable for policy in place that is not appropriate or properly enforced. Organizations require a consistent process to develop, communicate, monitor, and maintain corporate policy and procedures.
Why You Should Read This White Paper - The energy industry is among the largest and most important industries worldwide. For example:
Smarter State Government Processes in 2010 - Enabling Citizen-Centric Processes, Transforming Service Delivery and Reducing Costs with IBM WebSphere ILOG Business Rule Management System (BRMS) Technology
There is an increasing desire among business users to get into the driver seat for defining how the business is run. Moreover, regulatory constraints are increasingly demanding that businesses have transparency and consistency in their decision making, and that they are able to certify compliance.
Protect the availability of business-critical processes while keeping costs in line. This e-book takes you from business analysis to design and deployment to an actual case study using recognized industry best practices and governance guidelines.